MCLEAN, Va., July 2, 2015 /PRNewswire-USNewswire/ -- As we celebrate our country's independence this 4th of July weekend, many car manufacturers plan to take advantage of the extra shopping time consumers will have over the three day holiday weekend. Financially qualified shoppers in the market for a convertible may find the summer's most celebrated holiday the best time to score great financing or lease rates.
According to Larry Dixon, market intelligence analyst at NADA Used Car Guide, "If horsepower and performance are on their requirement list, shoppers might consider 72 months of 0% financing on Chevrolet's Camaro." Dixon went on to say, "Paying nothing in interest over the life of a loan helps you reach a positive equity position sooner."
Fashion-conscious shoppers who want to drive a new soft top now and deal with making payments after summer has ended might consider a model from MINI, such as the Cooper S Convertible or Cooper S Roadster. MINI Financial Services is currently offering a 1.9% APR for 36 months with no payments for up to 90 days on both models.
Equally iconic as vehicles from MINI, Volkswagen is offering even more generous financing on its Beetle Convertible. With a 0.9% APR over the course of 60 months, qualified buyers should expect to pay $17.05 for every $1,000 they finance.
Jonathan Banks, executive analyst at NADA Used Car Guide said, "If your taste in vehicles changes often and you don't want to put any money down on a purchase, Mazda is leasing their MX-5 [Miata] roadster for 24 months with nothing down."
If the cost of buying a new convertible isn't in the household budget, shoppers might consider purchasing something in the pre-owned market. NADA Used Car Guide's June Perspective report provides several examples of luxury drop tops ― ranging from the Chevrolet's Corvette to Audi's A5 Cabriolet ― that offer significant savings when compared to new models.
About NADA Used Car Guide
Since 1933, NADA Used Car Guide has earned its reputation as the leading provider of vehicle valuation products, services and information to businesses throughout the United States and worldwide. NADA's editorial team collects and analyzes over 1 million combined automotive and truck wholesale, and retail transactions per month. Its guidebooks, auction data, analysis and data solutions offer automotive/truck, finance, insurance and government professionals the timely information and reliable solutions they need to make better business decisions. Visit nada.com/b2b to learn more.
About J.D. Power
J.D. Power is a global marketing information services company providing performance improvement, social media and customer satisfaction insights and solutions. The company's quality and satisfaction measurements are based on responses from millions of consumers annually. Headquartered in Westlake Village, Calif., J.D. Power has offices in North/South America, Europe and Asia Pacific. J.D. Power is a business unit of McGraw Hill Financial. Visit www.jdpower.com/about-us/press-release-info to learn more.
About McGraw Hill Financial
McGraw Hill Financial is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company's iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL and J.D. Power. The Company has approximately 17,000 employees in 30 countries. Additional information is available at www.mhfi.com.
Sr. Manager, Public Relations
NADA Used Car Guide
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SOURCE NADA Used Car Guide